Apple denies second round of layoff rumors

For the second time in a week, Apple has denied rumors that it has laid off workers.

On Friday, Valleywag reported that a tipster informed it of layoffs in the Mac Hardware and Pro Applications group, describing Apple's Cupertino, Calif., headquarters as having "lots of security around" and saying "it seems like a lot" of employees were affected. Earlier in the week Valleywag published a similar report that 50 sales employees were laid off from Apple.

Apple's ability to ride out the worst economic period since Ronald Reagan's first term has been questioned over the last several weeks, with reports that Mac sales are on the decline and a substantial drop in its stock price Friday amid rising unemployment and falling consumer confidence. But the company has a cash position that most of its competitors can't match, and was not expected to have to resort to layoffs at this point.

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